Gold - Daily technical Forecast

By IBT Staff Reporter On 05/31/10 AT 4:03 AM

Gold closed slightly lower on Friday as it but remains above the 10-day moving average crossing. The low-range close sets the stage for a steady to lower opening on Monday. Stochastics and the RSI have turned bullish signalling that sideways to higher prices are possible near-term. If it extends last week's rally, this month's high crossing is the next upside target.